Mount Gibson in trading halt

Shares in Mount Gibson Iron Ltd have been placed in a trading halt pending the release of an announcement relating to its off-take agreements.

The company said it expects to release a statement in respect of ongoing discussions with customers and third parties over off-take agreement by the start of trade on Monday.

The halt follows an announcement earlier this month where Mount Gibson said some of its customers wanted iron ore shipments delayed amidst a declining appetite for the commodity due to economic uncertainty.

Shares in Mount Gibson have fallen from $1.155 from when the day before the shipment announcement was made to its last traded price of 40.5 cents.